Strong Growth Ahead: Agriculture Technology-as-a-Service Market Projects 23.12% CAGR Increase by 2028

Overview of Agriculture Technology-as-a-Service Market Size & Future Outlook

According to the latest report by MarkNtel Advisors, the Global Agriculture Technology-as-a-Service Market size is estimated to grow at a CAGR of around 23.12% from 2023-2028. This report is designed to enhance user understanding and support informed decision-making by thoroughly analyzing key market shifts, identifying gaps, exploring emerging opportunities, and assessing industry trends and competitive challenges. By combining both qualitative and quantitative data, it offers a comprehensive overview, highlighting growth prospects and providing valuable insights into competitors, helping both established companies and new entrants navigate the current market landscape.

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What are the key drivers influencing the growth of the Agriculture Technology-as-a-Service market?

This section provides a detailed analysis of the market drivers and factors is explored thoroughly below.

Sustainable Agriculture Solutions Meeting the Growing Need for Environmentally Friendly Farming – The increasing global population is contributing to escalating the demand for sustainable food around the globe. According to the World Bank, the population is presumed to reach around 9.7 billion by 2050, which positively generates the demand for food. Thus, sustainable agriculture solutions help to meet this demand while reducing the environmental effect of agriculture.

The rising impact of agriculture on the environment, including soil degradation, water pollution, and greenhouse gas emissions, has become a major concern. Sustainable farming practices, such as aquaponics & vertical farming, can help to mitigate these impacts. Henceforth, the surging demand for sustainable food production across the globe is driving the growth of the Global Agriculture Technology-as-a-Service Market as farmers seek out new & innovative ways to produce food that is environmentally friendly, healthy, and economically viable.

Moreover, environmental concerns & limited natural resources have led to a growing emphasis on sustainable farming practices around the world. Agriculture technology offers solutions for resource management, water conservation, soil health monitoring, and precision application of fertilizers & pesticides. These technologies enable farmers to minimize the environmental impact of agriculture while maintaining productivity.

Hence, the market would experience considerable growth in the forthcoming years, owing to the soaring global population & emphasis on sustainable farming practices driven by environmental concerns & limited natural resources.

How is the Agriculture Technology-as-a-Service market segmented and what are the key factors within each segment?

The Agriculture Technology-as-a-Service market has been further segmented into distinct categories. Analyzing growth within these segments allows you to identify niche opportunities, develop targeted strategies, and understand the variations in your core application areas and target markets.

By Service Type

Software-as-a-Service- Market size & Forecast 2018-2028, USD Million
Equipment-as-a-Service- Market size & Forecast 2018-2028, USD Million

By Technology

Data Analytics & Intelligence- Market size & Forecast 2018-2028, USD Million
Guidance Technology- Market size & Forecast 2018-2028, USD Million
Sensing Technology- Market size & Forecast 2018-2028, USD Million
Variable Rate Application Technology- Market size & Forecast 2018-2028, USD Million
Others- Market size & Forecast 2018-2028, USD Million

By Application

Yield Mapping & Monitoring- Market size & Forecast 2018-2028, USD Million
Soil Management- Market size & Forecast 2018-2028, USD Million
Crop Health Management- Market size & Forecast 2018-2028, USD Million
Navigation & Positioning- Market size & Forecast 2018-2028, USD Million
Others- Market size & Forecast 2018-2028, USD Million

By Region

North America
South America
Europe
The Middle East & Africa
Asia Pacific.

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Who are the Key Market Players in the Agriculture Technology-as-a-Service industry?

The competitive landscape of the Agriculture Technology-as-a-Service market provides a detailed look at the key players in the industry. This includes an overview of each company, their financial performance, revenue generation, and market potential. It also covers their investments in R&D, new market initiatives, production facilities, and strengths and weaknesses. Additionally, the analysis looks at recent product launches, approvals, the range of products offered, their dominance in different applications, and the product life cycle. All of this information is specifically focused on how each company is positioning itself within the market.

Several key players are actively operating in the market, including

AGCO Corporation
CLAAS Group
CNH Industrial NV
Deere & Company
Kubota Corporation
Yanmar Co. Ltd
365FarmNet GmBH
Agrivi
CropIn Technology Solutions Pvt Ltd
Fujitsu Ltd
IBM Corporation
Microsoft Corporation
Robert Bosch GmBH
Trimble Inc
Parrot SA
Pixhawk
Precision Hawk
Harvest Automation Inc.
Naio Technologies
Small Robot Company
Others Potential Players.

Market Advancement by Leading Companies:

2023: AGCO and Bosch BASF Smart Farming announced their joint development & commercialization of smart spraying capabilities. Under this partnership, companies aim to deliver optimal herbicide savings without compromising weed control & enable targeted spraying during day- & night-time conditions.

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